La Verne, CA

La Verne Real Estate Market Watch - February 8-14, 2012

Market Watch

New Listing (8)
Price Change (11)
Back On Market (2)
Backup Offer (4)
Expired (2)
Pending (3)
Sold (1)

Okay, so here are La Verne Real Estate Market statistics for this week - and they seem interesting!

This week there are eight new listings, not a lot, but still an okay number. Only one sold this week in La Verne, and that's not really a good sign for the city. Three went into escrow which means that in approximately 30-60 days we should have three more that sold. Again, not a great number for the La Verne Real Estate Market.

Two homes were placed back on the market and four have moved into back up status. Usually the homes that go back on the market are homes where the buyer has either had to wait too long and backed out of the deal, or can't get the loan they need to complete the purchase. The banks have been working on the timing part, but the new procedures are not helping a lot yet.

The fact that there is only one house that sold and three that have gone into escrow makes the number of price changes in La Verne huge! Eleven! Wow, I think it's a skill that many agents need to work on and at this point we can't blame all of those changes on the banks as they are starting to be more reasonable.

I try to stay on top of the communities I serve and be a local expert for all of them. So if you are interested in buying or selling a home, or if you simply have real estate questions, please feel free to contact me. I will be more than happy to assist you!

**All information is taken from the IMRMLS.

La Verne State of The City and School District

Okay, so I was reading an article about the State of the City and School District in the City of La Verne.

Mayor Don Kendrick along with Bonita Unified Superintendent of Schools (which covers both San Dimas and La Verne) Gary Rapkin made a joint presentation to share how things are going along.

The City of La Verne portion stated that there are major budget cuts coming due to the fact that the federal government has dissolved all of the Redevelopment Agencies. This will lower the budget for this year by $4M and then $2M in the following years.

The Bonita Unified School District is reported to be ready to tackle a loss of $5M for the next year if the voters do not approve the state's proposed tax increases on the November ballot. (Right here I'm inserting a private rant.)

But Superintendent Rapkin said in spite of all of these cuts, "our schools are not surviving, but thriving!" The district's 2011 Academic Performance Index rose for the ninth consecutive year to an all-time high of 854. Rapkin said it's not simply about the test scores, though, it's also about arts, athletics and activities. Coming from me, a parent in this district, I'd have to agree - it has been a well-rounded program up to this point in spite of losing $13,000,000 from their budget since the 2007-2008 school year.

So if you want to buy or sell real estate in the La Verne area, or simply have questions about real estate, please feel free to contact me. I will be more than happy to assist you. Call me for your free home market analysis!

HIGHS AND LOWS - La Verne, CA - January 20, 2012

Okay, so here is today's report for the LA VERNE, CA Real Estate Market.

SINGLE FAMILY RESIDENCE

Lowest Priced Home $ 229,900

Highest Priced Home $ 3,500,000

Average $ 419,000

Active Listings 121

Sold This Week 3

New Listings This Week 7

WHAT THIS MEANS TO YOU: You now have more information about what's happening with the LA VERNE REAL ESTATE MARKET so you can make an informed decision on whether this city is right for you and if the prices fit into your budget. The average price in LA VERNE this week is $419,000 which is lower than before. Prices have fallen just a little bit, but it looks like they are starting to stabilize in this area.

The other thing you can learn from this information is the saturation rate of the existing active real estate listings. The saturation rate is determined by the amount of sales in a week and the number of listings available for sale. So in this case, there are 121 homes being actively marketed by Realtors for sale. If you divide those 121 by the number of homes sold this week, in this case 3, you have your saturation rate. This means that if you placed your home on the market to sell you can expect it to take a little over 40 weeks to complete the sale of your home. That is if no other listings come into the real estate marketplace during that time. And we all know how likely that is, now don't we... In fact this past week there were 7 new listings.

HOW THIS AFFECTS YOU: If your price is competitive and your home is in relatively decent shape you can have it sold in as little as one day or as much or more than the 40 weeks. It also depends on the agent you are using. The more aggressive your agent's marketing plan is for your home, the more exposure your home gets and you can see that would have a great impact. It truly helps to have an agent that has an existing web presence since most people start their home search online. On the other hand, if you use someone who merely puts your home on the MLS and does nothing more, it will most likely take a little more time to sell.

If you are a buyer, this means you have a large selection to choose from and you have a better chance right now of getting an offer accepted. Not to mention that the average home price has dropped in the last month making you as they buyer able to afford a better home.

CONDOS AND TOWNHOMES

Lowest $ 75,000

Highest $ 344,300

Average $ 154,000

Active Listings 8

Condos Sold This Week 0

New Listings This Week 0

So if the same holds true for CONDOS, then it would take at least 8 weeks to sell your condo or townhome and probably more. It is more difficult to tell because of the lack of sales this week. And a buyer has 8 to choose from right now. It seems that during these trying economic times, people are really not doing much in the way of buying or selling condos.

Since I am local to the area, I work hard to be a local expert in LA VERNE Real Estate. The prices, the inventory and the trends so I can be a better agent for you. However, it is not only real estate information that makes one a local expert. There must also be knowledge of local events, schools and neighborhoods. Since I happen to live in LA VERNE I am pretty on top of things here.

So if you are interested in buying or selling or simply have questions about real estate, please feel free to contact me. I will be more than happy to assist you. Call me for your free home market analysis!

Price Reduction - La Verne Craftsman

Just Reduced to $399,900

Just Lost our Buyer...1st Mortgage is Approved, we just need a new Buyer! Don't Miss out on this Beautiful La Verne Craftsman 2269 Bonita Ave La Verne, CA Amazing style, built in 1922 4 Bedroom/2 Bath Singe Family House $399,900 Year Built 1922 Sq Footage 1842 Bedrooms 4 Bathrooms 2 Floors 2 Parking 2 Car garage Lot Size 9100 sqft Description Fantastic Downtown La Verne Craftsman home. This Craftsman beauty was built in 1922 and has all of the charm of an era past. From the manicured landscaping to the white picket fence, this home has amazing curb appeal. This Craftsman has been updated with copper piping & dual air conditioners. The inside of the house is adorned with classic built-ins and moulding & trim that gives it truly unique character. Property Features Central A/C Central heat Custom Built-Ins French Doors Additional Photos Contact Info Brian Doubleday & Dave Gubler (949) 378-6402 CA DRE Lic#01216167

La Verne Real Estate Market Watch - January 6-12, 2012

Market Watch

New Listing (12)
Price Change (5)
Back On Market (3)
Backup Offer (1)
Expired (1)
Pending (6)
Sold (4)

Okay, so once again we are starting a new year. Happy New Year once again to all of you. Here is this week's La Verne Real Estate Market Watch - and we're off and running!

This week there are 12 new listings which is a good sign that people are getting more and more confident in the real estate market. Four sold and 6 went into escrow. That's 4 homes that have new owners and 6 that will hopefully in a few weeks. So home sales are happening in La Verne.

There are 3 that went back on the market and 1 that has gone into backup status. Usually the homes that go back on the market are homes where the buyer has backed out for some reason and the seller has to start all over again. Most recently the reason most buyers back out is because of the time it has been taking for the lenders to approve short sales. To be fair, the lenders are working on it, but it hasn't helped much to this point.

You know, I try to be positive about the amount of price changes and this week I can. It's not that many this week ion La Verne with only 5. Again, the banks change their minds on pricing sometimes and with only 5, I believe that's what has happened here.

I try to stay on top of my communities and be a local expert for all of them. So if you are interested in buying or selling or simply have questions about real estate, please feel free to contact me. I will be more than happy to assist you!

**All information is taken from the IMRMLS.